By Laura Lutz
Des Moines, May 9 - Lehman Brothers Holdings Inc. priced $7 million of range notes due May 19, 2023 linked to six-month Libor, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly. For each quarter, the interest rate will equal a base rate times the proportion of days during the quarter on which six-month Libor is at least 0% and not more than 7%.
The base rate will be 8% per year for the first five years. Beginning May 19, 2013, the base rate will be 20% per year.
The notes will be callable at par on any interest payment date beginning on May 19, 2009.
Lehman Brothers Inc. is the underwriter.
| Issuer: | Lehman Brothers Holdings Inc.
|
| Issue: | Range notes
|
| Amount: | $7 million
|
| Maturity: | May 19, 2023
|
| Coupon: | Base rate times proportion of days on which six-month Libor is at least 0% and not more than 7%; base rate is 8% for first five years and 20% beginning on May 19, 2013; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates from May 19, 2009 onward
|
| Pricing date: | May 9
|
| Settlement date: | May 19
|
| Underwriter: | Lehman Brothers Inc.
|
| Fees: | 2%
|
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